account statement or a bank statement defination

May 19th, 2015

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An account statement or a bank statement is a summary of all financial transactions occurring over a given period of time on a deposit account, a credit card, or any other type of account offered by a financial institution. Bank statements are typically printed on one or several pieces of paper and either mailed directly to the

Anaccount statementor abank statementis a summary of allfinancial transactionsoccurring over a given period of time on adeposit account, acredit card, or any other type of account offered by afinancial institution.Bank statements are typically printed on one or several pieces of paper and either mailed directly to the account holder's address, or kept at the financial institution's localbranchfor pick-up. CertainATMsoffer the possibility to print, at any time, a condensed version of a bank statement.Historically, bank statements were producedquarterlyor evenannually. Since the introduction of computers in banks in the 1960s,[1]bank statements are generally produced every month. Lesser frequencies are nowadays reserved for accounts with small transaction volumes, such asinvestmentsorsavings accounts. Depending on the financial institution, bank